Sunday, November 05, 2006

A thrashing due once again............

Gold and silver are again due for good thrashing. We could see a rise till early tommorow and then a fall. This fall should be there technically as well as politically taking for granted that Bush gets favourable results in the coming polls.

Gold could come up to the $637-642 range from where we should see a correction of a minimum 5% - 8%.(Five percent technically and eight percent under pressure. The exact path of Gold is yet unclear to retail investors. The uncertainity looms ahead albeit with a very firm bias in mind and that is what is making the Gold vulnerable. Gold at the moment is also not following Crude oil as it generally does which is further creating uncertainity as to buy crude on the basis of higher gold prices or sell gold on the basis of lower crude prices.All in all the Dollar should gain after the elections at least for a few days after which everything should take its natural course i.e. the course prepared by big players and fund managers put together.

Silver is a very very BULLISH metal as I have been saying earlier "IF YOU ARE A BULL BUY SILBER IF YOU ARE A BEAR SELL GOLD" Bit silver also should generally follow gold and dollar at least for direction albeit at a lower pace. We have known this metal to srprise us as well as surpass all our expectations. So sit tight on longs and do not worry as it has very good industrial demand.

TRADING TIP: SELL GOLD BETWEN $637-640 WITH STOP LOSS ABOVE $648

SELL SILVER BETWEN $12.78-$12.85 WIH STOP LOSS ABOVE $13.06.

COPPER ON THE WHOLE IN THE LONG TERM IS NOT THAT BULLISH WITH CHINESE DEMAND SLOWING .

Thursday, October 19, 2006

Gold and Silver in "NO TRADE ZONE"..........

Gold and Silver have yet a long way to go before we can come to a definite conclusion as to their destinations. Punters as we may call the big players are making hay while the investors are at a loss of thought as they are not able to make up their minds as to what to do? A big blog has ben created in their minds and unstability prevails. Gold looks at touching $620-$630 the moment it rises above $600 and the moment it breaks $586 it looks towards $540-550. So what to do??
Same is the case with Silver albeit with a more positive outlook.

This is just the right scenario the punters wanted. Now we have started hearing levells of $480-$500 in the market where we were earlier getting sounds of $750-$800. This is what the punters wanted. The markets are set for a major reversall but?? after a quick slide which should be a major one to say $10.47 for Silver and $ 540.00 for Gold.

So stay put and do not hurry or overreact to any push or pull. Crude also is pushing and pulling gold and silver in both directions but it is definitely destined ro $55.00 at which point it should consolidate and rise.

Look positively and don't hurry.

"PATIENCE IS THE KEY"


Wednesday, October 11, 2006

Humpty Dumpty set for a great fall.................

There is nothing new to write about Gold and Silver . Everything is the same as last week. Gold has been unable to break $680.70 spot despite a number of tries in the past week. This is signalling a significant bearish divergence in the near term this time round Gold should fall below $570.00 spot and test $551.40 spot and maybe to low $500.00. On the upside we could see $593.00 spot which should again be a good levell to go short with stops above $600.00.Crude oiul has also closed below $58 ahead of US inventories which could again trigger something in Gold.

Silver has nothing new to add this wek expect that it is following Gold. Whenever you want to buy anything buy silver and whenever you want to sell anything sell Gold as Silver will rise faster and fall slower as compared to Gold. Buy on majort dips around $10.00.

Happy trading.

Wednesday, October 04, 2006

Gold and Silver crumble............

Gold and Silver had to come down like this and there is still more to come. The big question is where do we se Gold and Silver in the near to medium term? On what basis do we give our verdict: Fundamental; Technical; Geo Political; or even Astrological/Astronomical ? The best answer is to combine all these forces and see what results we get in general for the metal market as a whole.

Gold has broken key technicals and is bound further south to maybe0 $520.00 if we see a close again below $570.00 spot today. Fundamentally also Gold is not that strong. We shall not say it is weak but not that strong either because right now we see robust demand from India ; Middleeast and even South East asia but this is stocking up as prices are considered too low here and they expect them to go up from here but what if we see a further slide. Then I think the demand will totally come down. As per chinese astrology also this is a year of water and metals tend to sink in water. Geo political situations should not deliver any spike in the near term at least till the U.S. elections.Above all this Gold is a measure of the US economy and they have to project a stable U.S. state and for that Gold has to be down.

Silver on the other had is fundamentally very strong and technically also not that weak either. But if Gold falls further we could see Silver to a low of $9.40-$9.50 in the near term. All in all it should follow Gold to a major extent. We also have unconfirmed reports of certain Hedge Funds suffering losses on silver and the reports if true could bring down silver drastically.

The most important factor for the bearishness is the mind game the bigger players are playing with the small individual players/investors/speculators. The retail investor is still long and has still not squared their positions coz they see Gold to a maximum low of $550.00 now and therein lies the catch. Once it breaks those levells sharply the retail investor shll exit and maybe even sell extra expecting major losses from there. Again a Death Knell for them. This is a trap very carefully laid out by the sharks of this trade for the jelly fish. So watch your frien in the bullion trade is doing.

Tip: sell on extreme spikes.

Thursday, September 28, 2006

Gold and Silver get a welcome break.......

GOLD AND SILVER AS WELL AS CRUDE OIL GAOT A WELCOME BREAK FROM ALL THE BEATINGS GOING ON FOR THE PAST THREE WEEKS. WE CAN SAFELY SAY THAT THIS IS A VERY SHORT BULL RALLY IN A SHORT TERM BEAR MARKET. GOLD HAS BEEN CLOSING SUCCESSIVELY HIGHER FOR THE PAST FEW DAYS BUT DO NOT AT ANY COST BE MISLED BY THIS INTO BEING OVERTLY BULLISH. GOLD SHOULD TOP OUT AT $619.20 SPOT AND FROM THERE WE COULD SE A DASH BACK TO THE RECENT LOWS. SO TRADE ON TECHNICALS AND YOU WON'T LOOSE MONEY AT LEAST FOR A MONTH OR SO.

SILVER DOES NOT HAVE ANY METTLE OF ITS OWN BUT TENDS TO FOLLOW GOLD AND CRUDE AND ALSO COPPER. GENERALLY VERY BULLISH ON THIS WHITE METAL I WAOULD ADVISE CAUTION AS IT SHOULD ALSO TOP OUT AT $12.23 FROM WE COULD SEE IT COMING BACK TO $10.75 LEVELLS.

COPPER SHOULD GENERALLY STAY AWAY FROM ALL THE BULLISHNESS AND SHOULD LOOSE ITS SHEEN TO OTHER METALS LIKE MOLYBEDNUM WHICH ARE MUCH CHEAPER AND THE WORSE THAN WORST POSITION OF THE U.S. HOME MARKET AND MAYBE A SLACK DEMAND FORM EMERGING MARKETS.

TRADING RANGE FOR TODAY:(COMEX FUTURE)

GOLD: 601.30TO 618.00 <613.70-614.00>
SILVER: 11.32-12.02 <11.43-11.86>
COPPER: 334.00-352.00 <338.50-347.50>
CRUDE: 61.10-64.00 <61.50-63.50>

TRADING TIP "IT WOULD BE BETTER TO BUY FIRST AND SELL LATER"

Thursday, September 14, 2006

GATE CRASHING ON THE CLOSE......BUCKETEERS HAPPY

GOLD AND SILVER GATE CRASHED ON THE CLOSE LEADING INTO A NOSEDIVE WHICH COULD HAPPEN ANY TIME NOW. NEEDLESS TO SAY THE TREND IS THE SAME AND SHOULD CONTINUE FOR A FEW MORE DAYS AND MAYBE THROUGH NEXT WEEK. "BUCKETEERS " OR AS CALLED IN INDIA "DIBBA WALLAHS" ARE MAKING HAY AT THE COST OF THE RETAIL INVESTORS. "THE HIGHER THE NNETWORTH OF AN INDIVIDUAL THE HIGHER THE CHANCES OF LOSSES" IS THE TREND WHICH THESE PLAYERS ARE CASHING IN ON.THE LEVELLS AFOR TODAY SHOULD JUST REMAIN LEVELLS ON PAPER BUT THEY ARE THERE... GOLD SHOULD HOLD $571-$572 COMEX AND IT FACES STIFF RESISTANCE AT $586.30 AND $591.50-$597.30.

SILVER AS USUAL LED THE DOWNSIDE RALLY FROM THE FRONT. IT CLOSED JUST ABOVE MAJOR TECHNICALS WHICH LEAVES SOME HOPE FOR THE WHITE METAL BUT WE SEE A FURTHER DOWNSIDE IN THE OFFING. SILVER SHOULD HOLD$10.48 AND KEY RESISTANCE AT $11.02 AND $11.15.

NOTE: BE WARY OF TRADING TODAY UNLESS YOUR LEVESSL COME DO NOT HURRY TO TRADE AND ALL IN ALL AVOID INTRADAY TRADES AGAINST THE MARKET.

Wednesday, September 13, 2006

CONSOLIDATION AT LAST BUT THEN............

GOLD AND SILVER WERE BOTH SEEN CONSOLIDATING YESTERDAY WITH GOLD HOLDING SPOT $585 ON CLOSING BASIS. GOLD SHOULD TRADE INA A RANGE TODAY WITH $580.00 SPOT HOLDING AND $609 SPOT AS RESISTANCE. THERE IS NOTHING MUCH TO SAY AT THE MOMENT BUT A WORD OF CAUTION " DON'T BECOME OVERTLY BULLISH AT THE MOMENT"

SILVER HAS THE SAME OLD STORY OF FOLLOWING GOLD.THE WHITE METAL WAS ALSO SEEN CONSOLIDATING AT COMEX $11.00 AND $11.20.THIS SHOULD CONTINUE FOR THE DAY BUT WITH GOLD AND ENBERGY SUPPORTING WE COULD SE A SPIRT TO $11.64 TODAY WITH $11.00 ACTING AS KEY SHORT TERM SUPPORT.

TRADING TIP " TRADE IN SHORT BURSTS TODAY"

Tuesday, September 12, 2006

Gold Squandered and still continuing.....

GOLD CONTINUES TO BE BEARISH AND SHOULD REMAIN SO FOR ANOTHER WEK OR SO AND AFTER THAT MAYBE IT SHOULD CONSOLIDATE. THE IMPORTANT QUESTION COMING TO EVERYONE'S MIND IN THE OVERTLY BULLISH FEELING FOR GOLD ARE THE LEVELLS. WHAT LEVELLS TO GO LONG ?? I CAN SAFELY SAY THAT ONE CAN ENTER AT $ 540-550 AND THEN AT $520.00 IF THE BEARISH CURRENT IS TOO STRONG.ON THE UPSIDE WE COULD SE A RELIEF RALLY TO $ 607-615 RABGE.

FOR TODAY WE COULD SEE GOLD HOLDING ITS CURRENT LOW OF $586.10, ANY SLIDE FURTHER COULD SEE A CRASH OF 20-25 DOLLARS. WE HOPE TO SEE CONSOLIDATION ON FRIDAY. US KEY FINANCIAL NUMBERS ALSO FAILED TO ENLIGHTEN GOLD. WITH LOWER ENERGY PRICES WE COULD SEE GOLD TO KEP ON FALLING IN THE RATION OF ONE DOLLAR IN CRUDE TO 8-10 DOLLARS IN GOLD. ANYWAYS THE MOST IMPORTANT FACTOR IS TO SEE OR RATHER READ THE MINDSET OF THE RETAILS INVESTORS. ACCORDING TO MY SURVEY I SEE THAT WE COULD SE RETAIL SELLING IN THE RANGE OF $583 CONTINUING TO $570 WHICH COULD BRING DOWN GOLD TO OUR DESIRED LEVELLS OF $540.00. SELL ON SPURTS WITH STOP LOSSES.

SILVER DOES NOT HAVE ANY STORY OF ITS OWN..ONLY TECHNICALS. IT KEEPS ON FOLLOWING GOLD AND ENERGY AIMLESSLY. BUT WE SE A GOOD TECHNICAL SUPPORT AT $1185 WHICH IF BROKEN WE COULD SE 1134-1138 LEVELLS. SILVER IS IN THE MEDIUM TERM VERY VERY BULLISH SO DON'T LET THE CURRENT TREND CHANGE YOUR BULLISH FOCUS. FOR INTRADAY WE COULD BUY AT $1102-1104 WITH SL BELOW 1098.

Monday, September 11, 2006

GOLD AND SILVER CRASH BREAKING ALL TECHNICALS...

GOLD CRASHED TODAY TO $600 AND SHOULD FURTHER CONTINUE ITS CRASH TO $ 592-594 FOR TODAY FOLLOWING HEAVY FRESH SELLING BY THE BANKS AND PUNTERS TO GET THE STOP LOSSES OF THE RETAIL INVESTORS EXECUTED WHICH ARE ALL PLACED BELOW THE COMFORTABLE 200 DAY MA FROM WHERE THE GOLD REVERSED THE LAST TIME. BECAUSE OF THIS I PRESUME THAT THIS TIME ON GOLD SHOULD NOT HOLD ITS 200 DAY MA AND FALL FURTHER TO SAY AT LEAST $ 570.00 & $556.00. DESPITE THIS ONE SHOULD NOT SELL GOLD AND RATHER STAY AWAY FROM THE MARKETS AND WAIT FOR THE RIGHT TIME TO GO LONG ON GOLD AS THE LONG TERM BULLISH TREND REMAINS INTACT. TODAY GOLD SHOULD HOLD $592.00 .

SILVER IS THE METAL WHICH HAS NO WILL OF ITS OWN,IT IS LIKE A CRAZY BALL WHICH ROLLS WHEREVER THE GROUND LEVELL IS DOWN AND BOUNCES BACK FROM THE SURFACE SHARPLY. SILVER SHOULD HOLD 1140 TODAY AND 1114.5 AS THE 200 DAY MA. DESPITE ALL THIS SILVER SHALL FOLLOW GOLD AS THE MORE GOLD FALLS SILVER SHALL FOLLOW FASTER AND SMAE SHALL BE THE CASE ON RISE. IT IS AGAIN ADVISABLE NOT TO GO SHORT .

COPPER SHOULD ALSO HOLD 336 COMEX AND WE COULD AGAIN SE 357 BEFORE A FALL TO 317.50 AND FROM THEREON A RISE TO BEYOND 400 LEVELLS. BUT THE SHORT TERM VIEW REMAINS BEARISH FOR THIS RISKY METAL.

TIP: TRADE JUST LIKE AS IF YOU WERE CROSSING A BUSY TRAFFIC INTERSECTION.

Friday, September 08, 2006

GOLD DOWN SILVER AND COPPER FOLLOW.....

GOLD AND SILVER HAVE COME DOWN HEAVILY ON TECHNICAL SELLING AND ALSO SOME SELLING BY CENTRAL BANKS.THE RETAIL INVESTORS ARE ALL LONG ON GOLD AND SILVER AND HENCE THE FUND MANAGERS AND BIG PUNTERS CANNOT LET THE GOLD RISE. THEY WILL BRING DOWN GOLD TO THE LEVELLS WHERE THE RETAIL INVESTORS WILL FEEL THAT THERE IS NO ROOM FOR APPRECEATION AND HENCE EXIT THEIR LONG POSITIONS. THEN ONLY THIS GLITZY METAL SHOULD MAKE A DASH FOR THE SKY. IT HAS MUCH ROOM FOR FURTHER FALL BELOW $600 SPOT. THE PREVIOUS LOW OF AROUND $550 SHOULD HOLD IN THE MEDIUM TERM. SO RETAIL INVESTORS SHOULD EXIT ON RISE AND WAIT FOR MAJOR DIPS TO ENTER OR GO LONG AGAIN.

FOR SILVER IT IS THE SAME STORY ALBEIT WITH A DIFFERENCE. THIS "PUNTERS FAVOURITE"METAL SHOULD NOT GO DOWN THAT MUCH AS THEIR IS DEMAND FOR SILVER FOR INDUSTRIAL USE. YOU CAN BUY SILVER ACCORDING TO THE GOLD LEVELLS.

COPPER IS ANOTHER METAL WHICH HAS TAKEN THE RETAIL INVESTOR'S SLEEP AWAY AS WELL AS THOSE OF THE PHYSICAL TRADERS.WITH SO MUCH FLUCTUATION THE PHYSICAL TRADERS ARE ALSO AWAY FROM THE MARKETS AND ON THE SIDELINES. COPPER IS ALSO PRETTY BULLISH IN THE MEDIUM TO LONG TERM. WE CAN ENTER AT $307 COMEX. WITH A TARGET OF $401.